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Prime Hillcrest - 4 Units 137 Pennsylvania Ave 4 Unit Apartment Building $2,953,498 CAD ($738,375 CAD/Unit) 3.04% Cap Rate San Diego, CA 92103
Investment Highlights
- Located in the Heart of Prime Hilcrest: Walk Score of 95
- (1) 2-Car Garage & (3) Single Car Garages
- ~ 17% of Upside in Rental Income
- New Appliances, Cabinets & In Unit Washer / Dryers
- Beautiful Hard Wood Floors and Unique Large Layouts
Executive Summary
Located in the heart of Hillcrest, 137 Pennsylvania Avenue offers a rare opportunity to own a well-maintained 4-unit property in one of San Diego’s most walkable and sought-after neighborhood, boasting a Walk Score of 95 and immediate access to University Avenue, the Hillcrest Farmers Market, and a wide mix of cafés, restaurants, and many other nearby amenities. The property features four large 1bedroom/1bath units, each thoughtfully updated with new appliances, modern cabinets, in-unit washer/dryers, and beautiful hardwood floors with spacious layouts. The site offers an over 1:1 unit/parking ratio with five off-street parking spaces, (1) 2-car garage, and (3) single-car garages. With an unbeatable Hillcrest location, the property appeals to both investors seeking a stable, upgraded asset with upside and owner-occupiers looking to live in a premium unit while leveraging rental income from the remaining apartments.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$149,615
|
$52.13
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,488
|
$1.56
|
| Effective Gross Income |
$145,127
|
$50.57
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$55,324
|
$19.28
|
| Net Operating Income |
$89,803
|
$31.29
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $149,615 |
| Annual Per SF | $52.13 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $4,488 |
| Annual Per SF | $1.56 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $145,127 |
| Annual Per SF | $50.57 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $55,324 |
| Annual Per SF | $19.28 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $89,803 |
| Annual Per SF | $31.29 |
Property Facts
| Price | $2,953,498 CAD | Property Subtype | Apartment |
| Price Per Unit | $738,375 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.08 AC |
| Cap Rate | 3.04% | Building Size | 2,870 SF |
| Gross Rent Multiplier | 19.74 | No. Stories | 2 |
| No. Units | 4 | Year Built | 1920 |
| Property Type | Multifamily | Parking Ratio | 1.74/1,000 SF |
| Zoning | R3 | ||
| Price | $2,953,498 CAD |
| Price Per Unit | $738,375 CAD |
| Sale Type | Investment |
| Cap Rate | 3.04% |
| Gross Rent Multiplier | 19.74 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.08 AC |
| Building Size | 2,870 SF |
| No. Stories | 2 |
| Year Built | 1920 |
| Parking Ratio | 1.74/1,000 SF |
| Zoning | R3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $3,117 CAD | 675 - 775 |
1 1
Exceptionally walkable
90/100
Moderately drivable
70/100
Good public transit
60/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 452-284-21 | Improvements Assessment | $586,143 CAD |
| Land Assessment | $1,250,444 CAD | Total Assessment | $1,836,587 CAD |
Property Taxes
Parcel Number
452-284-21
Land Assessment
$1,250,444 CAD
Improvements Assessment
$586,143 CAD
Total Assessment
$1,836,587 CAD
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Prime Hillcrest - 4 Units | 137 Pennsylvania Ave
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